Citi to Offer Stablecoin Checkout for Corporate Clients, With Coinbase Handling the Conversion
The expanded partnership lets businesses convert stablecoin payments to fiat automatically while using Citi’s regulated banking infrastructure and Coinbase’s virtual accounts.
- On Monday, September 28, 2026, Citigroup tapped Coinbase Global to enable institutional clients to accept stablecoin payments. Coinbase will provide payment infrastructure, while Citi acts as the bank of record, settling funds for large multinational corporations.
- The partnership addresses operational complexity for firms connecting traditional banking with blockchain infrastructure. "This is really part and parcel of completing that jigsaw puzzle," said Shahmir Khaliq, head of services at Citi, regarding the bank's strategy to bridge digital assets and broader economies.
- Spring by Citi allows merchants to serve over 150 million stablecoin holders globally by automatically converting digital currency to fiat. Coinbase will custody the stablecoins, which carry a yield-like return of 3.75% per year.
- Despite the failure of the Clarity Act in the Senate, which stalled over interest-like stablecoin yields, the arrangement proceeds. Khaliq stated, "We are not hampered," indicating Citi's plans remain unslowed by the legislative setback.
- Citi is expanding its token services to Japan and the United Arab Emirates, bringing the service to seven countries and regions total. The bank plans to launch a tokenized deposit system next year with JPMorgan Chase and other firms.
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Citi and Coinbase Expand Partnership to Bridge Fiat Banking and Stablecoin Payments
A major U.S. bank is rolling out new rails that let businesses move between traditional bank money and stablecoins without juggling separate crypto systems. Citi and Coinbase expanded their collaboration with two U.S.-first products that connect fiat banking to stablecoin payments, says Citi. Coinbase Virtual Accounts use Citi’s Virtual Account Wallet so payments customers get […]
Watch Citi, Coinbase Team Up To Let Merchants Accept Stablecoins
Bloomberg's Anna Irrera joins Scarlet Fu and Tim Stenovec on "Bloomberg Crypto." Citigroup is partnering with Coinbase Global to allow the bank’s institutional clients to accept stablecoin payments, as large financial institutions step up their involvement in new forms of digital money.
Financial Post
Citi and Coinbase Expand Collaboration to Connect Digital and Fiat Payments for Corporations and Consumers
The collaboration solves operational complexity and risk for businesses connecting traditional banking services with blockchain rails without requiring separate systems. Coinbase selects Citi Services’ Virtual Account Wallet (via Banking-as-a-Service) to power Coinbase Virtual Accounts, delivering bank-account-like functionality with automatic fiat-to-stablecoin conversion. Spring by Citi will enable institutional clients to accept stablecoin pa…
Citi and Coinbase Expand Stablecoin Payments as James Comer Broadens Crypto Probe
The relationship between traditional finance and the cryptocurrency industry is entering a new phase, illustrated by two significant developments involving Citi, Coinbase and congressional oversight of digital-asset markets. While Citigroup is working to make stablecoin payments more accessible to institutional businesses, Representative James Comer is expanding an investigation into potential insider trading and suspicious activity […]
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